Grosvenor Americas is pleased to welcome locally owned and operated Pete’s Fresh Market to its property, Rice Lake Square, in Wheaton.
Pete’s fills two adjacent spaces vacated by Whole Foods Market and Sports Authority. The 69,586 square-foot enhanced concept grocery store is expected to open in fall 2018.
Grosvenor Americas’ Perry C. Reith is the Senior Investment Manager responsible for Rice Lake Square, which Grosvenor has owned since 2004.
A multiple Talk of the Town winner and Illinois produce distributor, Pete’s Fresh Market began as a small produce stand on Chicago’s south side in the early 1970s. Over the next forty-plus years, the family-owned grocer has grown and expanded its concept into a full-service supermarket with prepared foods, bakery, deli, in-house butchers, groceries including international, gluten-free and organic, wines and spirits, and Pete’s signature hand-picked fruits and vegetables.
Known for quality products at the right price and with twelve locations currently operating in the Chicago area, the grocery retailer saw an opportunity to expand into the Wheaton market when Whole Foods relocated from Rice Lake Square and Sports Authority closed that location. “We recognized that the residents of Wheaton have a lot of grocery options, but we knew we could close the gap between high-end experience and affordable pricing,” says Stephanie Dremonas of Pete’s. “This is a wonderful location, and Pete’s is looking forward to serving the Wheaton area.”
Rice Lake Square is managed by Mid-America Asset Management and is anchored by Studio Movie Grill, PetSmart and Stein Mart. Other stores and restaurants include Panera Bread, Houlihan’s, Orange Theory Fitness, Men’s Wearhouse and Tuesday Morning.
For more information contact:
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Notes to Editors
Grosvenor Americas aims to become a market leader in select geographical areas and sectors in Canada and the USA through focused, strategic expansion. Grosvenor Americas uses their knowledge of the cities they work in and their property skills to develop projects that contribute to the vibrancy and attractiveness of those communities. With particular interest in retail, residential condominiums and apartments, and mixed-use sectors, the Company currently operates in Washington, D.C., Seattle, San Francisco, Los Angeles, Vancouver and Calgary. As at 31 December 2016, Grosvenor Americas had assets under management of C$4.6bn. www.grosvenor.com @GrosvenorAmer